Good morning, RJ Baxter. Here your out of the box lender with your Saturday strategy. This week, I have a practical strategy for you, and this is a question that we deal with a lot throughout transactions, and it's how much concessions can a seller contribute towards the buyer's closing cost? So I have for you a convenient cheat sheet that you can use to reference when you're in a transaction and are curious how much concessions, especially if you have one of those notorious national lenders, you can't get anyone on the phone. You don't know what the guideline is, just refer to this spreadsheet or give me a call. 

Of course, I can help you with these questions, but if you look down below on a conventional loan, it has to do with how much down payment they have, and then also if it's a primary second home or an investment property. And you can see that depending on the down payment amount, it's either three, six or 9% of the sales price. On concessions on an investment property, it's always 2%. FHA always, of course, primary residence, it's a 6%. And then VA. I don't know if you knew this little known guideline, but VA concessions from the seller can actually be used to pay off the debts of the veterans to help them qualify. That's pretty cool. But the actual total concession, which is limited to 4%, but the total concessions on VA is unlimited. 

Now, if in reality, you could use, whatever, $50,000 worth of concessions, highly unlikely, because concessions cannot go towards down payment if you didn't know about that. And then USDA 6%. So shoot me an email or a text, and I'm happy to send this over to you so you can reference at any time. And once again, my name is RJ Baxter Intercap Lending. Give me a call if you come across any buyers that need help with the pre approval this weekend. I'm definitely watching, and I hope you have a great weekend. Thanks a lot. Thanks a lot. 

Find out more information at http://www.cohomesandloans.com

RJ Baxter
Intercap Lending
http://www.cohomesandloans.com
303-670-0137
baxterteam@intercaplending.com
NMLS #395819